Shortly after Kushner Companies announced that it would be selling some of its stake in the six Jehovah’s Witnesses buildings it purchased with LIVWRK to RFR Realty, the sale of one of those major properties has closed. It’s official: the 30-story hotel at 90 Sands Street traded to 90 Sands Owner LLC for $135 million, public records show.
Kushner, LIVWRK, and RFR entered a deal with the Jehovah’s Witnesses in July 2013 to purchase the hotel, along with five industrial buildings—at 55 Prospect Street, 81 Prospect Street, 175 Pearl Street, 77 Sands Street, and 117 Adams Street—for $375 million. The Real Deal reports that Aby Rosen’s RFR alone purchased 90 Sands Street, and is now “weighing its options regarding the property.”
That means the property may well not become home to Brooklyn’s first Public Hotel. Early plans for the site included converting the 30-story building into a 600-key hotel by Ian Schrager. In 2015, Schrager said he wanted to bring “Brooklyn’s answer to the Rainbow Room” to the site in the form of an observatory restaurant.